National Oilwell Varco, Inc. (NYSE:NOV) was upgraded by investment analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other research analysts have also issued reports about the stock. Piper Jaffray Companies set a $37.00 price target on shares of National Oilwell Varco and gave the company a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $38.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Wednesday, May 31st. ValuEngine raised shares of National Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of National Oilwell Varco in a research report on Tuesday, July 11th. Finally, Scotiabank set a $37.00 price target on shares of National Oilwell Varco and gave the company a “hold” rating in a research report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.05.

Shares of National Oilwell Varco (NYSE:NOV) opened at 29.94 on Thursday. The company has a 50-day moving average of $32.57 and a 200 day moving average of $35.55. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $43.63. The company’s market capitalization is $11.38 billion.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm earned ($0.30) earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that National Oilwell Varco will post ($0.40) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “National Oilwell Varco, Inc. (NOV) Upgraded to “Buy” by Loop Capital” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/17/national-oilwell-varco-inc-nov-upgraded-to-buy-by-loop-capital.html.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in National Oilwell Varco by 2.5% in the second quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after buying an additional 930,849 shares in the last quarter. First Eagle Investment Management LLC increased its stake in National Oilwell Varco by 1.7% in the second quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock worth $873,075,000 after buying an additional 452,148 shares in the last quarter. BlackRock Inc. increased its stake in National Oilwell Varco by 1.4% in the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after buying an additional 354,574 shares in the last quarter. Harris Associates L P increased its stake in National Oilwell Varco by 16.0% in the second quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after buying an additional 2,557,484 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in National Oilwell Varco by 2.8% in the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock worth $529,551,000 after buying an additional 359,809 shares in the last quarter. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

About National Oilwell Varco

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

Analyst Recommendations for National Oilwell Varco (NYSE:NOV)

Receive News & Ratings for National Oilwell Varco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Oilwell Varco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.